Real Estate Investing in Boring, Oregon (97009)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 97009 (Boring, OR)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- High price-to-rent: Price-to-rent ratio 35.0 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Boring, OR (97009)?
Click any question — our AI will research it live from the web and show you sources.
Market Analysis: 97009 Boring
The 97009 ZIP in Boring, OR is a local-operator market. Outside capital chasing a $733K entry has to pair deep knowledge with the discount.
Rent of $1,746/mo on a $733K basis reads well until vacancy, delinquency, and capex enter the model. The honest cap rate in 97009 sits below the stated 0.0% once reality is priced in.
In the broader OR picture, 97009 is a reminder that not every low-priced ZIP is a value-add opportunity — some are simply distressed, and the difference matters.
Resident income in 97009 sits below the county median. That reality colors rent collection, vacancy, and reinvestment math in ways that outside investors often underestimate.
The 97009 ZIP fits a narrow investor profile — hands-on, patient, and willing to accept that the cap rate on paper is not the cap rate in reality.
Here's what matters if you're considering buying a home in Boring:
Property Strategy for 97009
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 3BR | $687,012 | $2,640 | 2.8% | +5.4% | $229,004 |
| 4BR | $830,397 | $3,140 | 2.7% | +5.9% | $207,599 |
| 5BR | $841,338 | — | — | +6.7% | $168,268 |
Market Trends
Home Value History (with trend line)
📊 How Does 97009 Compare?
| Metric | 97009 | Boring | Oregon |
|---|---|---|---|
| Home Value | $732,709 | $732,709 | $493,884 |
| 5-Year CAGR | 2.8% | 2.8% | 4.9% |
| Avg Rent | $1,746 | $1,746 | - |
| Cap Rate | 1.9% | 1.9% | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 97009 (Boring, OR). Anonymous, moderated, never written by AI.
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Property managers serving Clackamas County
Manage rentals here? List your business →Eagle Property Management is Portland's premier property management team, serving Portland and Lake Oswego, OR. summary from their website
Illume Property Management and North Coast Property Management eliminate the stress of property ownership and remodeling in the Portland Metro Area and on the Oregon Coast. summary from their website
Real Property Management helps protect investments, provides professional service, minimizes costs, and maximizes income for property owners. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $732,709 |
| Monthly Rent | $1,746 |
| Price-to-Rent | 35.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.9% |
| Cap Rate | 1.9% |
| 5-Year IRR | 4.6% |
📈 Home Appreciation
| 1-Year | +3.5% ▲ |
| 3-Year CAGR | +2.9% ▲ |
| 5-Year CAGR | +2.8% ▲ |
| 10-Year CAGR | +5.7% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (1.9%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 97009
Population: 7,877
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 97009
Schools in This ZIP Code
About Repit School Scores
Traditional school ratings rely heavily on standardized test scores, which often reflect family income more than school quality. Repit takes a different approach.
We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Investor Insight: With 2,401 students living off-campus nearby, this area has strong rental demand from the college population.
Frequently Asked Questions
What price range are homes in Boring, OR?
The median home value in Boring, OR is roughly $733K. That puts it reasonable relative to the OR statewide average.
Is Boring, OR a good place for real estate investing?
Yes - Boring, OR a 2.0/5 investability score. With $733K home prices against $1,746/mo monthly rent, the market delivers a reasonable entry point for new investors.
Is OR a landlord-friendly state?
The landlord environment in Boring, OR is landlord-friendly. Statewide rules shape most day-to-day operations for rental owners.
What does house hacking look like in Boring, OR?
For house hackers, Boring, OR is a challenging. The $1,746/mo rent on a unit helps defray the mortgage on a $733K property.
What approach is best for Boring, OR real estate?
Investors who focus on careful cash-flow rentals with hands-on management typically do well in Boring, OR. The numbers - $733K homes against $1,746/mo rents - support that play.
You know 97009 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 97009 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 97009 ranks in Portland-Vancouver-Hillsboro, OR-WA
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